Bernard Durkan (Kildare North, Fine Gael)
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69. To ask the Minister for Jobs, Enterprise and Innovation the extent to which she expects Ireland to be in a position to increase trade with the US, Canada and other EU and non-EU locations post-Brexit; and if she will make a statement on the matter. [30682/17]

Frances Fitzgerald (Dublin Mid West, Fine Gael)
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As the UK’s exit negotiations have only recently commenced it is hard to predict at this stage the full impact of Brexit.  Much will depend on the nature of the future trade deal that will be negotiated between the EU and the UK.  These negotiations are likely to be complex and multifaceted.

Promoting diversified export markets in light of the potential impacts of Brexit is a key priority for my Department.  With a small domestic market, further expansion in other markets is essential to our continued economic growth.  Overall, export growth in Ireland in recent years has been exceptionally strong and exports continue to contribute positively to growth.  Since 2009, the value of exports from Ireland has risen by over 60%.

The EU’s suite of Free Trade Agreements with third Countries help to open new markets, break down barriers and provide new opportunities for Irish firms.  The EU-Canada Comprehensive Economic and Trade Agreement (CETA) covers virtually every aspect of economic activity.  It will remove over 99% of tariffs and will create sizeable new market access opportunities in services and investment in many sectors for Irish firms. 

Irish firms will be able to bid for Canadian public contracts at the federal and sub-federal level.  They will benefit from the recognition of product standards and certification, thus saving on ‘double testing’ on both sides of the Atlantic.  CETA provides significant opportunities for the Irish dairy industry and has strong protections for our beef industry through restricted quotas for Canadian beef entering the EU.  There are a wide range of sectoral opportunities for Irish firms in Canada, including financial software, telecoms, digital media, agricultural machinery and life-sciences and medical devices.

The provisional application of CETA in the coming months will ensure that Irish firms can immediately benefit from the Agreement and in turn generate jobs and growth for Ireland.

The US remains one of Ireland’s most important partners for trade and investment.  Goods exports from Ireland to the US in 2016 increased by 13% and imports increased by 14%.  In fact in the last four years, our goods trade with the US has increased by 54%.  Data available for Q1 of this year shows a further increase in the value of our goods trade with the US, when compared to Q1 last year.

The latest data available for Services trade shows a 34 % increase in services exports to the US in 2015 and a 20% rise in services imports from the US compared to the previous year.

I am hopeful that the value of Ireland-US trade will continue to increase and the general indicators are strong.  However, the global trading environment is uncertain, particularly in light of Brexit and an increase in protectionist sentiment.  Our programme of trade and investment missions and high level visits to the US have provided a key foundation on which to further build our strong economic and trading links with the US and these will continue into the future.